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Published byAmina Fellers Modified over 9 years ago
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Bitcoin: Free Money Roger Ver
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Why Bitcoin? “For the first time in the history of the world, anyone can now send or receive any amount of money with anyone else, anywhere, instantly, basically for free, and it is impossible for anyone, including governments, to stop them. ”
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Good Money
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How? BlockchainProtocolClient Open and decentralised network Open code and transparent protocol Public record of all transactions
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Bitcoin in 5 minutes 1. Get a wallet 2. Buy bitcoins 3. Spend bitcoins
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Wallets
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Be safe! Bitcoin gives you unprecedented control over your money. That is a great responsibility. -Keep your private keys safe -Make backups -Hold your bitcoins yourself! -Be careful who you trust with your bitcoins
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Regulation Regulation of exchanges Acceptance of protocol Currency, digital commodity, or prepaid instrument? www.bitlegal.net
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Growth: Users
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Growth: Price
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Growth: Transactions
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Growth: Merchants
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Valuing Bitcoin Amazon Amazon grosses $38 billion per year. Assuming a 3% transaction fee, Amazon pays $1 billion a year in transactions fees. Amazon nets $1 billion per year. Amazon could double their profits by doing all transactions in Bitcoin. If the market cap for bitcoin was $38 billion, each bitcoin would be worth $5,400.
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Valuing Bitcoin Gambling The online poker market is $4.8 billion a year industry. Online gambling will follow poker and is a $30 billion a year industry If the market cap for bitcoin was $30 billion, each bitcoin would be worth $4,300.
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Valuing Bitcoin International Remittance International remittance is the transfer of money by a foreign worker to their home country. In 2007, remittance worldwide transferred $300 billion dollars. Western Union fees for remittance can run from about 4 percent to 20 percent or more. If the market cap for Bitcoin was $300 billion, each bitcoin would be worth $42,000.
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Valuing Bitcoin Amazon = $5,400 Gambling = $4,300 International Remittance = $42,000 Bitcoin adoption world wide = ??????
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Valuing Bitcoin http://www.globalmacroinvestor.com/
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Payment network
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Markets
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Exchanges: post Gox Transparency - External Audits Proof of reserves - No fractional reserve P2P Exchanges …distributed exchanges coming in 2015!
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Ecosystem 1. Protocol & client 2. Blockchain & miners 3. Exchanges 4. Payment processors 5. Applications 6. DACs & other promises
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coinmarketcap.com Cryptocurrencies
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Startups I angel.co/bitcoin
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Startups II
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ATMs
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Bank integration
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Mobile
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Main Street http://coinmap.org/
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Remittances
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Philanthropy
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Micropayments
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PayPal
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Games
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E-Sports
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History
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Financial Markets 2013 Bitcoin CFDs 2014 Bitcoin Derivatives 2015 Bitcoin ETFs 2016 ??
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Financial Markets 2.0 P2P Currency P2P Payments P2P Lending (beta) P2P Markets (beta) P2P Funding (beta) P2P Contracts 2015 P2P Law ?
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Q&A @rogerkver http://rogerver.com/
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